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Posts Tagged ‘economy’

China limits world’s highest foreign currency reserves

November 21, 2013 Comments off

rt.com

Reuters / Kacper Pempel China’s central bank has said it no longer sees any benefit in increasing its $3.66 trillion foreign currency reserves – already the world’s largest. China will cap its purchases of US dollars in an effort to limit the depreciation of the yuan.

“It’s no longer in China’s favor to accumulate foreign-exchange reserves,” Bloomberg quoted Yi Gang, a deputy governor at the central bank as saying Tuesday.

Decreasing the influence of the dollar and other currencies is a step closer to reaching China’s 2015 goal to “float” its currency and according to the People’s Bank of China will help the everyday Chinese citizen.

Between July and September 2013 China’s increased its foreign – currency holdings by $166 billion, boosting it to the world’s highest of $3.66 trillion. This is also more that the Read more…

Peak Civilization: MIT Research Team Predicts Global Economic Collapse and Precipitous Population Decline

April 9, 2012 Comments off

shtfplan.com

Researchers at one of the world’s leading think tanks have developed a computing model that predicts serious implications for our way of life as a result of our incessant need to consume resources like oil, food, and fresh water. According to a team of scientists at the Massachusetts Institute of Technology, the breaking point will come no later than 2030, and when it does, we can expect a paradigm shift unlike any we have seen before in human history – one that will not only collapse the economies of the world, but will cause food and energy production to decrease so significantly that it will lead to the deaths of  hundreds of millions of people in the process.

 

The recent study, completed on behalf of The Club of Rome, an organization which issued it’s own findings on ‘peak everything’ back in the 1970′s in a controversial environmental report dubbed The Limits to Growth (video), takes into account the relations between various global Read more…

World food prices keep on rising — UN

April 9, 2012 Comments off

newsday

MILAN — Global food prices rose in March for a third successive month, driven by gains in grains and vegetable oils, the United Nations’ Food and Agriculture Organisation (FAO) said on Thursday, putting food inflation firmly back on the economic agenda.

Food prices hit record highs in February 2011 and stoked protests connected to the Arab Spring wave of civil unrest in some North African and Middle Eastern countries. They then receded, but started to grow again in January.

The index, which measures monthly price changes for a food basket of cereals, oilseeds, dairy, meat and sugar, averaged 215,9 points in March, up from a revised 215,4 points in February, FAO data showed.

Its cereal price index averaged 227 points in March, up from February, with maize prices showing gains, supported by low inventories and a strong soybean market, the FAO said.

“You can see prices in the near term rising even further,” FAO’s senior economist and grain analyst Abdolreza Abbassian said before the index update.

The FAO also confirmed its earlier forecast for world wheat output to fall 1,4% from Read more…

S&P Downgrades Greece to ‘Selective Default’

February 28, 2012 Comments off

moneynews

Greece’s credit ratings were cut to “Selective Default” by Standard & Poor’s after it negotiated the biggest sovereign debt restructuring in history.

S&P dropped Greece’s rating from CC, two levels above default, after the government added clauses to its debt designed to mop up investors unwilling to take part in the exchange, the New York-based company said in a statement Monday.

The downgrade follows a reduction last week by Fitch Ratings to C, while Moody’s Investors Service has said it will cut the nation to its lowest rating. Greece published the formal offer document last week for its agreement to exchange bonds for new securities, with investors taking a Read more…

China’s Geostrategic Designs on Latin America

February 2, 2012 Comments off

americasquarterly.org

In the last 5 years China’s military activities in Latin America and the Caribbean have grown at an unprecedented rate.   Beijing now regularly hosts officers from Colombia, Chile, Mexico, Peru and Uruguay  in its military academies, has expanded arms sales and technology transfers to countries like Argentina, Bolivia, Brazil and Venezuela, and in October last year even sent  a navy ship to the Caribbean.

Is China—now Brazil and Chile’s number-one trade partner—buttressing its economic interests in the Western Hemisphere with military ties and alliances?  Is this the Middle Kingdom’s equivalent of President Barack Obama’s Pacific pivot to balance China’s saber rattling in Asia?

There’s no doubt that China’s torrid economic growth rate and its arrival as an emerging—if not already emerged—global economic superpower has shifted the international system and brought a more muscular Chinese foreign policy.  That policy—part of what the Chinese labeled its “Going Out” strategy—has come with a growing Chinese diplomatic, economic and even military presence in many of its closest trade partners.  Given China’s need for raw materials to feed its manufacturing growth and urbanization—gobbling up everything from iron, to oil, to soybeans and frozen chicken—the country’s rise has been felt most obviously (at times with alarm) in Read more…

Is The US Monetary System On The Verge Of Collapse?

September 21, 2011 1 comment

zerohedge

Tune into CNBC or click onto any of the dozens of mainstream financial news sites, and you’ll find an endless array of opinions on the latest wiggle in equity, bond and commodities markets. As often as not, you’ll find those opinions nestled side by side with authoritative analysis on the outlook for the economy, complete with the author’s carefully studied judgment on the best way forward.

Lost in all the noise, however, is any recognition that the US monetary system – and by extension, that of much of the developed world – may very well be on the verge of collapse. Falling back on metaphor, while the world’s many financial experts and economists sit around arguing about the direction of the ship of state, most are missing the point that the ship has already hit an iceberg and is taking on water fast.

Yet if you were to raise your hand to ask 99% of the Read more…

The Largest Bubble in U.S. History

August 30, 2011 Comments off

inflation

On August 6th after S&P downgraded the U.S. debt rating from AAA to AA+ with a negative outlook, NIA prayed that Americans would not make the mistake of buying U.S. Treasuries as a safe haven. We normally don’t pray about economic matters, but only God can save the U.S. economy today as well as investors who have been brainwashed into believing U.S. government dollar-denominated bonds are a safe place to store wealth. Unfortunately, only when hyperinflation arrives will the majority of American citizens realize that fiat U.S. dollars should be used as a medium of exchange only and not a place to store wealth.

Since NIA was launched two and a half years ago, the overwhelming majority of our economic predictions have come true, with many of our accurate predictions being unique only to us. Sometimes we are a bit early with our predictions, but they almost always eventually come true. One of our predictions that Read more…

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